Hyperdrive

Daimler Truck Gains in Debut After Historic Split From Mercedes

Biggest commercial-vehicle maker opens at EU28 per share
Listing is most significant strategic step since Chrysler sale

WATCH: CEO Martin Daum discusses the challenges Daimler Truck will face as a newly listed company.Source: Bloomberg

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By Christoph Rauwald and Jan-Patrick Barnert

December 10, 2021 at 4:00 AM UTC

Updated on

December 10, 2021 at 9:40 AM UTC

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Daimler AG’s trucks division gained in its first trading day as the storied German manufacturer completed a historic spinoff to better face sweeping changes in the auto industry.

Daimler Truck Holding AG rose as much as 7% after opening at 28 euros, valuing the company at around 24 billion euros ($27 billion). While that’s below Bloomberg Intelligence’s range of as much as 31 billion euros, the company is still in contention to join Germany’s benchmark DAX index, being worth more than current members Deutsche Bank AG and utility RWE AG.